What we're staring at above is Canada's 5-year yield, which cascaded 72 bps in just 29 days. It's the first time we've closed under 3% since May 2023. Yield drops like this are as common as a one-handed economist, and multiple factors

Canada's rate outlook shifted a bit after Wednesday's BoC rate cut, and that shift benefits rate floaters. To paint the picture, here's a hot-off-the-press chart of the forward rate outlook from CanDeal DNA.

It feels like just yesterday that "higher for longer" was the going cliché in economic circles. After Tuesday's CPI improvement, however, people might flip that phrase on its head. Borrowers got the CPI print they needed to pave the way for a BoC cut on July

💡Also in this edition: • Latest from RateLand • The Value Zone • Mortgage Bytes Anyone who cares about property values needs to care about population values. When household formation outpaces housing formation, real estate markets fly as high as a kite, and vice versa. Since the Liberals announced their non-permanent resident (NPR)